Question:

Debit and Credit...need help with accounting homework...?

by  |  earlier

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how would I record:

Issued $7,000 of bonds payable at a price of 102.

in an accounting journal?

Dr. Cash

. Cr. Bonds Payable

. Cr. Premium on Bonds Payable

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  1. Dr. Cash   7140

    . Cr. Bonds Payable 7000

    . Cr. Premium on Bonds Payable 140

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